Columbus Acquisition, a blank check company led by Chinese executives, filed on Friday with the SEC to raise up to $58 million in an initial public offering.
The Singapore-based company plans to raise $58 million by offering 5.8 million units at $10. Each unit consists of one share of common stock and one right to receive one-tenth of a share upon the completion of an initial business combination. At the proposed deal size, Columbus Acquisition would command a market value of $76 million.
The company is led by CEO and Chairman Eric Zhang, a Founding Partner of Hercules Capital Group, where he is in charge of large scale alternative financing solutions for major commercial endeavors. While it has not selected a target industry, the SPAC plans to focus on emerging growth companies that are or have the potential to become leaders in their verticals, among other characteristics.
Columbus Acquisition was founded in 2024 and plans to list on the Nasdaq under the symbol COLAU. The company filed confidentially on July 26, 2024. A.G.P. is the sole bookrunner on the deal.
